Viasat (NASDAQ:VSAT) Trading 5.6% Higher - Here's What Happened

Shares of Viasat Inc. (NASDAQ:VSAT - Get Free Report) shot up 5.6% during trading on Wednesday . The stock traded as high as $13.61 and last traded at $13.71. 327,440 shares were traded during trading, a decline of 89% from the average session volume of 3,058,720 shares. The stock had previously closed at $12.98.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on VSAT shares. William Blair reaffirmed a "market perform" rating on shares of Viasat in a research report on Tuesday, April 15th. B. Riley cut their price objective on shares of Viasat from $56.00 to $52.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. Barclays raised their price objective on shares of Viasat from $9.00 to $10.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Viasat from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Finally, Needham & Company LLC cut their price objective on shares of Viasat from $19.00 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $19.00.

Viasat Stock Performance

The company has a market cap of $1.87 billion, a P/E ratio of -3.23 and a beta of 0.98. The company has a quick ratio of 1.55, a current ratio of 1.72 and a debt-to-equity ratio of 1.41. The stock's 50-day moving average price is $10.32 and its 200 day moving average price is $9.68.

Hedge Funds Weigh In On Viasat

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AlphaQuest LLC increased its position in Viasat by 39.0% during the fourth quarter. AlphaQuest LLC now owns 4,473 shares of the communications equipment provider's stock worth $38,000 after acquiring an additional 1,255 shares during the period. Steward Partners Investment Advisory LLC increased its position in Viasat by 75.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,950 shares of the communications equipment provider's stock worth $25,000 after acquiring an additional 1,267 shares during the period. SummerHaven Investment Management LLC increased its position in Viasat by 2.9% during the first quarter. SummerHaven Investment Management LLC now owns 52,738 shares of the communications equipment provider's stock worth $550,000 after acquiring an additional 1,494 shares during the period. MAI Capital Management increased its position in Viasat by 74.7% during the first quarter. MAI Capital Management now owns 3,836 shares of the communications equipment provider's stock worth $40,000 after acquiring an additional 1,640 shares during the period. Finally, Kestra Private Wealth Services LLC increased its position in Viasat by 11.4% during the first quarter. Kestra Private Wealth Services LLC now owns 16,673 shares of the communications equipment provider's stock worth $174,000 after acquiring an additional 1,700 shares during the period. Institutional investors own 86.05% of the company's stock.

About Viasat

Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband internet access and voice over internet protocol services to consumers and businesses; in-flight entertainment and aviation software services to commercial airlines and private business jets; satellite-based connectivity services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and energy services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.